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shanetrain

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  1. My Stats: Your Quit Date is: 2/14/2007 2:07:00 PM Time Smoke-Free: 4 days, 6 hours, 37 minutes and 37 seconds Cigarettes NOT smoked: 86 Lifetime Saved: 15 hours Money Saved: $18.00 My Med Plan: Chantix/Varenicline Evenings seem to be difficult, but i'm managing. Was a smoker for 16 years.
  2. The biggest selling point for DirecTV, is that they exclusively carry the NFL package. All the day games, every weekend. That in itself, is enough for me to keep them forever. I've had DirecTV for about 11 years now, would never consider changing, although I don't like the idea of not owning my own equipment anymore, but whatever.
  3. Agent, I was born and raised in SLC, and currently live about 40 miles west of it, in a small town. I hope that you enjoyed your visit, and that some "misperceptions" about here were dispelled. Anyways, I have been to the following: Illinois (Chicago) Nebraska (Lincoln) Iowa (Sioux City) Wyoming (All over) Montana (Just over the border, in Yellowstone) Colorado (Denver) Idaho (Boise, Idaho Falls, Pocatello, Twin Falls, Hailey, Sun Valley, all over, really) Oregon (Portland) Washington (Seattle) California (LA, SD) Nevada (Vegas, many times) Arizona (Phoenix) Hawai'i (Oahu and Maui, want to live there some day, even though I could never afford the real estate) Hope to visit all 50 before I die.
  4. I can't get my MBNA World to show up either login ID. That's interesting.
  5. Yeah, one of my cards is still not showing in the account summary. Does anyone else have this issue?
  6. For some reason, one of my cards isn't showing up in the card summary. Got it about 3 weeks ago, through MBNA, and now it's not showing. All I get is my MBNA MC and my B Of A Visa, and a closed Gold Option Loan account. I did setup the new card on the MBNA site, and everything was fine before the conversion to the new site. Anyone else having any issues w/ any of your cards or accounts not showing up in the summary? The summary page is as far as I can get, and when I click on one of the accounts, the page just hangs forever.
  7. I paid 2.56 this morning. Last week, it was still in the 2.60+ range. I'm in SLC.
  8. You may want to check out this forum that may be able to help you out with your question. http://www.thecreativeinvestor.com/ As far as purchasing homes with an LLC most lenders will not allow you to use an LLC to pruchase homes, there are a few that will but 99% will not unless you get into commercial financing. Many investors transfer the property after the fact into an LLC, you are not technically supposed to because the lender has the right to call the loan due in full, but people do it all of the time. It is the risk you take. Thank you for the advice, the properties have already been purchased. Transferring to the LLC's is a risk i'm willing to take. My dilemma is now, on whether or not to change the ownership of the LLC to 50/50 between my wife and myself, or to just bite the bullet on the transfer tax. Thanks again.
  9. Thank you, I will get w/ my accountant.
  10. Mods, please delete, I posted this in the mortgage forum, which may be more appropricate, and cannot edit this topic or post. I apologize, and thank you.
  11. Hello all, There may be a more appropriate forum for this, but this looks like the best choice, so forgive me and move the topic, if necessary. My wife and I recently acquired 2 rental properties, and what I need to know is this: I have recently setup and LLC for property acquisition. I have been advised, that because myself and my wife have purchased the real estate in our name, that the transfer into the LLC would not be considered "exempt", because my partner is not 50% owner of the property, as he is w/ the LLC. This is the info that I have received: "The only thing we cannot do with this "structure" is to make the transfers from you and your wife to the LLC "exempt transfers". I think this is just the "cost of doing business" that you will incur upon transfer of property into the LLC. You may be able to reduce the cost by paying a "partial transfer tax" when transferring: Some states still allow this, not sure about Utah." I have been unable to get absolute clarification on this, and am wondering if there are any "seasoned" real estate investors hanging around that might be able to shed some light on this subject. To me, what is effectively being said, is that my wife and I would have to be 50/50 owners of the LLC, because we are 50/50 owners of the properties. This question may be better suited for a title company, but I thought I might inquire here, just so that I understand it a little better. I appreciate any responses, and TIA!!!!!
  12. Hello all, There may be a more appropriate forum for this, but this looks like the best choice, so forgive me and move the topic, if necessary. My wife and I recently acquired 2 rental properties, and what I need to know is this: I have recently setup and LLC for property acquisition. I have been advised, that because myself and my wife have purchased the real estate in our name, that the transfer into the LLC would not be considered "exempt", because my partner is not 50% owner of the property, as he is w/ the LLC. This is the info that I have received: "The only thing we cannot do with this "structure" is to make the transfers from you and your wife to the LLC "exempt transfers". I think this is just the "cost of doing business" that you will incur upon transfer of property into the LLC. You may be able to reduce the cost by paying a "partial transfer tax" when transferring: Some states still allow this, not sure about Utah." I have been unable to get absolute clarification on this, and am wondering if there are any "seasoned" real estate investors hanging around that might be able to shed some light on this subject. To me, what is effectively being said, is that my wife and I would have to be 50/50 owners of the LLC, because we are 50/50 owners of the properties. This question may be better suited for a title company, but I thought I might inquire here, just so that I understand it a little better. I appreciate any responses, and TIA!!!!!
  13. Mystry, I appreciate your responses, and yes, the market is red hot, and there is always the chance that the market could bottom out at any time. I just want to make clear, that I am definitely rational, and ALWAYS will make sure that I have researched everything to the best of my ability, before I just "jump in" to something. I am not impulsive at all, and bottom line is, at the end of the day, have no problem closing my checkbook and walking away from something, if it doesn't feel right, or if i'm not fully educated about what I am trying to do. That being said, there is always those things that might not be thought of, that come up, hence the reason I am tapping the resources here, along w/ others, to try and make sure that I can look this thing up one side and down the other, and make sure that I have tried to cover every angle that is humanly possible. There are other items to be explored as well, as to whether or not the I can even obtain loans, if need be. I appreciatae all of your feedback. ;-)
  14. Not trying to be cynical, but do some research on the area you plan to invest in. You say that the area has high appreciation. Is this appreciation real or is it inflated because other investors/speculators are purchasing, too, driving up the prices. If it is the latter, you could be faced with trying to unload your homes along with the other 35 investors that had the same idea. On top of that, many areas have now swung into a buyers market, so it is not so easy to "flip" the property once complete. Take a look at other new construction in or around the same area as you. Are those homes selling quickly? Can you reasonably afford to hold a property for several months if they do not sell? Do you have a contingency plan? Also, does the builder plan to sell directly to the public as well? If so, are they/will they be offering incentives on new purchases? If so, this will be competition for your sales. I agree with you entirely, on a lot of points here. This particular area, is what would be considered to be "higher end". Very desireable. Based upon the info that I have been given, I should be able to unload the home, with no problems, at the very least, at a wash. The comps in the area support higher values. The builder is local to the area, has 20 homes they are building, don't do alot of advertising, and one of my friends that I mentioned, is building her own home, in the same area through them, and knows the builder personally. These are also the last 4 lots available, and the builder is holding them for us, specifically, and I am going to meet with them tonight. Most homes in the area are selling red hot, don't even last on the MLS for a day, and are usually pre-sold, before they are even in the MLS. Finally, are you prepared to lose money? I know we all go into a venture hoping to make huge (or at least modest) profits, but what if things go very badly and you have to sell for less than you paid? Are you prepared to handle this? Do you have that kind of cash to throw around? Are you comfortable with this going on your credit if things go very wrong?If you are asking can I afford to make mortgage payments on even one of them, should I not be able to sell, the answer is no. This is why I am here, trying to gather advice. It's not necessarily that I am trying to retire on this transaction, it is just an opportunity that has come up, that has not been there before. New construction, in my area, is very difficult to get a hold of, and you are right, alot of it has been snatched up by investors, that are most likely in a much better spot, financially, then I am, and can afford to take that risk. I just don't want to be looking back, with regrets, on an opportunity, that has passed me by. ;-) Just some things to think about. Just curious, but, in general, what market are you in?SLC area.

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